JAKARTA – Rocket company SpaceX, owned by world conglomerate Elon Musk is poised to become the most valuable US startup as its valuation rises to over 125 billion US dollars (Rp 1815 trillion) in the ongoing sale of shares on the secondary market. This was disclosed by a source familiar with the matter to Reuters.
The stock, which was trading at about $72 a share in valuation from last October, is now soaring, as SpaceX shares sold for $56 each after the 10-1 split and valued the rocket company at $100 billion.
According to this anonymous source, no new shares were issued in the secondary offering, but the company indicated to investors that they may do so later this year.
The sale of the shares could value SpaceX at more than $125 billion, surpassing fintech giant Stripe, which is worth $115 billion in secondary sales.
It is not known how many shares SpaceX has available for sale. It is common for high-value private companies to offer shares on the secondary market to introduce liquidity for early investors and employees.
Reuters was unable to determine whether Space X chief executive Elon Musk, who owns a 44 percent stake in SpaceX and signed a $44 billion deal to acquire Twitter Inc, was among the sellers. Musk is also the chief executive of Tesla Inc.
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In a capital-intensive business, SpaceX raised $337.4 million in December and $1.16 billion in equity financing last April.
The company competes with former Amazon.com chief executive Jeff Bezos, who owns aerospace company Blue Origin, and billionaire Richard Branson, who owns Virgin Galactic in a growing constellation of competing for commercial rocket ventures.
SpaceX has launched multiple cargo and astronaut payloads to the International Space Station for the National Aeronautics and Space Administration (NASA), including 19 rocket launches for this year alone. This makes it more valuable than Blue Origin and Virgin Galactic.
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